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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Commentary Of The Month
April 13, 2015
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INEQUALITY

By John Stossel

President Obama calls inequality "the defining issue of our time." Politicians constantly find crises they will solve by increasing government power. But why is inequality a crisis? That's a common refrain, but it's wrong. Over the past 30 years, CBO data shows that the average income of the poorest fifth of Americans is up by 49 percent. That doesn't include all the innovations that have dramatically improved everyone's life. Today even the poorest Americans have comforts and lifespans that kings didn't have a century ago.

Poor people don't have to stay poor. Sixty-four percent of those born in the poorest fifth of the U.S. population move out of that quintile. Eleven percent of them rise all the way to the top, according to economists at Harvard and Berkeley. Most of the billionaires atop the Forbes richest list weren't born rich. They got rich by innovating. Rich people aren't guaranteed their place at the top, either. Sixty-six percent fell from the top quintile, and eight percent fell all the way to the bottom.

America has prosperity and innovation because we have relatively free markets. Progressives say, "Keep the innovation but have government make us more equal." But that doesn't work. It's been tried. Government-enforced equality – socialism – leaves everybody poor.